Hello Folks

I bought a teaching series online in MP3 format.
I like the teaching. The file is about and hour and a half long
and I do listen to all of it when I have time.
But there is like 4 minutes of it that I really like that I would like to be able to capture just that 4 minute stretch into a separate MP3 file for playback... so I can load it into my Phone and listen to just that part when I want to.

Now I downloaded a free audio recording program called Audacity.
Its supposed to be a good one... but I cant figure out how to do what I want to do. I want to be able to play that full MP3 file... and then start a recording at the beginning of that part I like and let it play for about 4 minutes and then stop it when I want to... and just have that 4 min stretch captured into its own separate MP3 file.

I should be able to do this with Audacity... but It seems when I try to do this.... it records from the Microphone on my laptop and is nothing but static > but I rather want it to record from the system > through the sound card or through windows.. not from the microphone

does anybody know how to do this??
I have tried to rig audacity to do this but cant figure it out. I also tried to do this through Jet Audio free but I cant get that to work either.

so if anybody know how I can do this t that would be great

if you know how I can rig up Audacity to do this that would be great

if you know of some other way I can do this that would be great also

I have a Lenovo Laptop running windows 10
the laptop has 6 gigs of ram and is in pretty good shape
I should be able to do this

thank you for your help